Turkey's army chief denounces coup plot talk as smear campaign


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ISTANBUL // After weeks of speculation about a suspected new coup plot by Turkey's armed forces against the government, the country's top general yesterday went on the counter-offensive, accusing critics of waging a smear campaign and stressed that no anti-democratic activities would be tolerated in military ranks on his watch. "We think that this piece of paper has been prepared by someone who wants to undermine the Turkish Armed Forces and blacken their image," Gen Ilker Basbug told reporters in Ankara. "As the chief of general staff, I say: take your hands off the military."

The coup allegations were made public by the newspaper Taraf, which is known for its critical reporting about the army, two weeks ago. Taraf said a colonel working in the general staff in Ankara had signed a four-page document this April that listed suggestions to destabilise the religiously conservative government of Recep Tayyip Erdogan, the prime minister, who is seen as an Islamist by many army officers.

Despite a private meeting between Gen Basbug and Mr Erdogan, aimed at calming the waters, the allegations have raised tensions between the army and the government. Mr Erdogan's ruling Justice and Development Party, or AKP, has brought criminal charges in an effort to find out if the alleged plan is genuine and who wrote it. Gen Basbug said yesterday the military would talk about the issue in next week's meeting of the National Security Council, an advisory body that includes the president, the leaders of the government and the country's top generals.

Some media have suggested that the document may have been fabricated by opponents of the army in an effort to undermine public confidence in the armed forces. But given Turkey's histories of coups and army interventions, with four governments removed by military pressure since 1960, and a coup threat by the military against Mr Erdogan only two years ago, the fresh allegations have reignited a debate about the political role of the army.

Even media and commentators known for their closeness to the military called the alleged plot unacceptable. Although both military and civilian investigators have so far failed to find hard evidence that the alleged coup plan was genuine and although the colonel named by Taraf denied having written such a paper, many commentators said it could not be ruled out that such plans existed within the ranks of the military.

"If you think it is legitimate that the military is active in politics, and if you accept that, then it is unavoidable that plans for coups are being drawn up," Oral Calislar, a columnist for the Radikal newspaper, wrote recently. Scepticism towards the armed forces, coupled with a waning influence of the military resulting from political reforms designed to prepare Turkey for membership in the European Union, is significant for a country where top generals used to be beyond criticism. Only a few days ago, the main opposition party said it wants to change the constitution in order to put former coup leaders on trial. Kenan Evren, the leader of the coup of 1980 who later went on to become president, said he would commit suicide if such a constitutional amendment would be ratified in a referendum.

Reacting to the criticism levelled against the military, Gen Basbug yesterday repeated earlier statements that he would not accept any anti-democratic leanings in the armed forces. "No one carrying thoughts outside democracy and justice will be tolerated in the Turkish Armed Forces," he said. "If such a situation were to arise, the Turkish Armed Forces, the general staff would take the necessary steps immediately."

He called on the civilian prosecutor in Istanbul to find those who wrote the document. tseibert@thenational.ae

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2. Max Verstappen (Red Bull-Honda) at 0.745s

3. Valtteri Bottas (Mercedes) 37.383s

4. Lando Norris (McLaren) 46.466s

5.Sergio Perez (Red Bull-Honda) 52.047s

6. Charles Leclerc (Ferrari) 59.090s

7. Daniel Ricciardo (McLaren) 1:06.004

8. Carlos Sainz Jr (Ferrari) 1:07.100

9. Yuki Tsunoda (AlphaTauri-Honda) 1:25.692

10. Lance Stroll (Aston Martin-Mercedes) 1:26.713,

RESULT

Valencia 3

Kevin Gameiro 21', 51'

Ferran Torres 67'

Atlanta 4

Josip Llicic 3' (P), 43' (P), 71', 82'

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

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World record transfers

1. Kylian Mbappe - to Real Madrid in 2017/18 - €180 million (Dh770.4m - if a deal goes through)
2. Paul Pogba - to Manchester United in 2016/17 - €105m
3. Gareth Bale - to Real Madrid in 2013/14 - €101m
4. Cristiano Ronaldo - to Real Madrid in 2009/10 - €94m
5. Gonzalo Higuain - to Juventus in 2016/17 - €90m
6. Neymar - to Barcelona in 2013/14 - €88.2m
7. Romelu Lukaku - to Manchester United in 2017/18 - €84.7m
8. Luis Suarez - to Barcelona in 2014/15 - €81.72m
9. Angel di Maria - to Manchester United in 2014/15 - €75m
10. James Rodriguez - to Real Madrid in 2014/15 - €75m

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TCL INFO

Teams:
Punjabi Legends 
Owners: Inzamam-ul-Haq and Intizar-ul-Haq; Key player: Misbah-ul-Haq
Pakhtoons Owners: Habib Khan and Tajuddin Khan; Key player: Shahid Afridi
Maratha Arabians Owners: Sohail Khan, Ali Tumbi, Parvez Khan; Key player: Virender Sehwag
Bangla Tigers Owners: Shirajuddin Alam, Yasin Choudhary, Neelesh Bhatnager, Anis and Rizwan Sajan; Key player: TBC
Colombo Lions Owners: Sri Lanka Cricket; Key player: TBC
Kerala Kings Owners: Hussain Adam Ali and Shafi Ul Mulk; Key player: Eoin Morgan

Venue Sharjah Cricket Stadium
Format 10 overs per side, matches last for 90 minutes
When December 14-17

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Avatar: Fire and Ash

Director: James Cameron

Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana

Rating: 4.5/5

MATCH DETAILS

Juventus 2 (Bonucci 36, Ronaldo 90 6)

Genoa 1 (Kouame 40)

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Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

RESULTS

5pm: Handicap (TB) Dh100,000, 2,400m
Winner: Recordman, Richard Mullen (jockey), Satish Seemar (trainer)

5.30pm: Wathba Stallions Cup Handicap (PA) Dh 70,000, 2,200m​​​​​​​
Winner: AF Taraha, Tadhg O’Shea, Ernst Oertel

6pm: Abu Dhabi Fillies Classic Prestige (PA) Dh110,000, 1,400m​​​​​​​
Winner: Dhafra, Fabrice Veron, Eric Lemartinel

6.30pm: Abu Dhabi Colts Classic Prestige (PA) Dh110,000, 1,400m​​​​​​​
Winner: Maqam, Fabrice Veron, Eric Lemartinel

7pm: Handicap (PA) Dh85,000, 1,600m​​​​​​​
Winner: AF Momtaz, Fernando Jara, Musabah Al Muhairi

7.30pm: Maiden (PA) Dh80,000, 1,600m​​​​​​​
Winner: Optimizm, Patrick Cosgrave, Abdallah Al Hammadi